Cata Company, with U.S. headquarters in Pompano Beach, showcased two patented cash management products it plans to offer in the U.S. at the recent Association for Financial Professionals (AFP) annual conference in Orlando.
Cata introduced CataCash One and CataCoin at the yearly industry conference exploring emerging technologies, trends and services which drew over 6,500 financial decision makers.
CataCash One, a cash management “smart safe” system, comes with a smaller footprint and an extended life span; reduces loss risk; works with existing systems, and features remote management capabilities, the company said. The CataCash One platform enables staffers to track cash collection and compile daily transaction reports by providing employees with unique PIN numbers.
CataCoin assists with coin management. Of the 80 percent of U.S. households that save coins to collect and cash or credit to their bank accounts, two-thirds balk when it comes to paying fees to coin machine vendors or exchange services.
CataCoin provides a system free of excess charges. It comes with a monitoring system, remote access and even entertainment features attractive for younger individuals.
Cata Company, more widely known in Brazil than in the U.S., recirculated over 14 percent of all Brazilian coins minted in 2015 via more than 100 retail chains. Now, it is planning to expand in the U.S.
“We use the knowledge we have accumulated to create products that are attractive and easy to use that also provide organizations with solutions that maximize their return on investment,” Cata Company CEO Victor Levy said. “The United States is an opportunity rich market with a significant amount of cash in circulation and the need for next generation solutions that make it easier to manage that cash. Our experience in Brazil shows that the right technology can address such a need.”